In a country where a large chunk of housing wealth sits idle, a thicker housing market will set into play many welfare enhancing factors, such as greater geographical mobility of labour, a national housing market, a spurt in new construction, spillover effects in a range of other industries and a general boost for the economy. The time is ripe for the well-established players in the housing finance sector to introduce these products. If necessary, the government could provide fiscal benefits to give an initial boost to such activity.
